HI5017: Managerial Accounting - The Costing Systems - Real-Life Organisation - Accounting and Finance Assignment Help

Assignemnt Task:

Purpose of the assessment (with ULO Mapping) 

Students are required to develop their understanding of the purpose and use of management accounting systems, especially costing systems and its usefulness in aiding managers make informed decisions. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting systems by contemporary companies, in terms of their relevance to the real-life companies’ decision-making by managers and achievement of business goals (ULO 1, 3 & 4)

Submission Guidelines 

• All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page. 

• The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. 

• Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style. 

• It is the responsibility of the student who is submitting the work, to ensure that the work is in fact her/his own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking on Blackboard before final submission in the subject. For further details, please refer to the Unit Outline and Student Handbook.

Purpose:

This assignment aims at developing your understanding of the purpose and use of management accounting systems, in particular costing systems, and its usefulness in aiding managers make informed decisions. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting systems by contemporary companies, in terms of their relevance to the real-life companies’ decision-making by managers and achievement of business goals. 

Assignment Task:

You are required to conduct a literature search and critically review a costing system in this assignment. 

Part A 

Choose ONE of the costing systems studied in this unit from the list below, and answer the questions that follow: 

• Job Costing 

• Process Costing 

• Operation Costing (Hybrid Costing) 

• Activity-based Costing (ABC) 

Questions:

1. Briefly discuss the features of your chosen costing system. (3 marks) 

2. Identify 2 specific Australian companies that your chosen costing system is suitable for, and explain why. (3 marks) 

3. Discuss two potential uses of the cost information for decision-making, to the managers in each of the 2 organisations selected in Q2 above. (3 marks) 

Part B 

Choose one peer-reviewed journal article (from any country) on the: Use of your chosen costing system in a real-life organisation (i.e. a case-based empirical study). The article should be published between 2005 – 2020. Choose your article only after you have accessed and reviewed several relevant articles, and then choose the best article that will answer the questions below. 

Questions:

1. Based on your chosen costing article, briefly summarise how the costing system was designed and implemented in your real-life organisation. (3 marks) 

2. Based on your chosen costing article, did the costing system in the study satisfy the features discussed in Part A (Q1)? Why or why not? Include examples in your answer from your costing article. (5 marks) 

3. Based on your chosen costing article, how useful was the cost information to the internal users in the organisation? Discuss with examples from your costing article. (5 marks) 

4. Based on your literature findings, state two key lessons that would inform contemporary organisations about the practical use of your chosen costing system. (5 marks)

Assignment Structure:

The report should include the following components: 

a. Assignment cover page clearly stating your name and student number

b. Abstract (one paragraph)

c. Table of contents

d. A brief introduction or overview of what the report is about

e. Body of the assignment with appropriate section headings

f. Conclusion

g. List of References. 

Academic Integrity 

Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these resources can also be found through the Study Sills link on Blackboard. 

Academic Integrity breaches are a serious offence punishable by penalties that may range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment.

Marking Criteria 

Part A

1. Briefly discuss the features of your chosen costing system. 3%

2. Identify 2 specific Australian organisations that your chosen costing system is suitable to, and explain why. 3% 

3. Discuss the potential uses of the cost information for decision-making, to the managers in each of the 2 organisations selected in Q2 above. 3% 

Part B

1. Based on your chosen costing article, briefly summarise how the costing system was designed and implemented in your real-life organisation. 3% 

2. Based on your chosen costing article, did the costing system in the study satisfy the features discussed in Part A (Q1)? Why or why not? Include examples in your answer from your costing article. 5% 

3. Based on your chosen costing article, how useful was the cost information to the internal users in the organisation? Discuss with examples from your costing article. 5% 

4. Based on your literature findings, state two key lessons that would inform contemporary organisations about the practical use of your chosen costing system. 5% 

Marking Rubric:

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